The S&P BSE Sensex and NSE Nifty 50 Indexes were trading on a flat note as gains in Infosys, Reliance Industries, ITC and ICICI Bank were offset by losses in HDFC, HDFC Bank, Larsen & Toubro and Bharti Airtel. The Sensex which declined as much as 114 points, in early trades, reclaimed 38,000 mark while the NSE Nifty 50 Index was trading near its important psychological level of 11,350. Meanwhile, mid- and small-cap shares were trading on a mixed note with S&P BSE MidCap Index declining 0.2 per cent and the S&P BSE SmallCap Index rising 0.3 per cent.
Here are some stock tips (trading ideas) from Choice Broking for today’s session:
Buy REC Limited
Choice Broking recommends buying REC Ltd. in the range of Rs. 148.50-149.50 for target price of Rs. 155 with stop loss at Rs. 145. The brokerage in a report said that on an hourly scale, the stock has given a breakout of its multiple resistances which points out for a bullish move in the stock. A daily momentum indicator RSI (Relative Strength Index) reading is at 46.31 level with a positive crossover which points out for a positive breath in the stock.
Buy Radico Khaitan
Choice Broking recommends buying Radico Khaitan for target price of Rs. 315 with stop loss at Rs. 285. The brokerage in a report said that the stock has bounced back after taking a support of around Rs. 277 level which is 78.6 per cent retracement level of its previous move from Rs. 261.95 to Rs. 332.50 level which suggests a positive move in the counter.
Buy Dilip Buildcon
The Mumbai-based stock broking firm led by executive director Sumeet Bagadia has recommended buying Dilip Buildcon for target of Rs. 455 with stop loss at Rs. 403. “The stock has bounced back from of its lower band of symmetrical triangle formation on charts which shows stock may accelerate in coming trading sessions,” Choice Broking said. Moreover, the stock has bounced back after taking a support of around Rs. 400 which is 78.6 per cent retracement level of its previous move from Rs. 370.85 to Rs. 511 which suggests a positive move in the counter, the brokerage added.